-
Canada Interest Rate Decision Preview: BoC expected to keep rates unchanged despite recent inflation uptick
The Bank of Canada (BoC) is widely expected to leave its policy rate unchanged at 5% when it concludes the September policy meeting on Wednesday, following the 25 basis points rate hike announced in July. The Canadian Dollar has been struggling to find demand since the previous BoC policy meeting and has lost nearly 2.5% against the US Dollar. The BoC’s latest Participants Survey, published on July 24, showed that most market participants expected the bank to hold its policy rate at 5% until the end of 2023. Moreover, participants also forecast the BoC to reduce the key interest rate to 3.50% in the fourth quarter ... (full story)